When it comes to making money online, many assume that their best option is to open an e-commerce shop where they can sell items directly to digital consumers. However, this is far from the only way that you can make money online. Here are a few alternative solutions that can help you earn actual revenue from your website.
1. Subscription Services
Traditional e-commerce relies on customers coming back to your store time and time again to make purchases. However, many businesses are finding that they can achieve a steady source of monthly income through subscription services.
Examples of subscription services include sites like Dollar Shave Club and HelloFresh, where customers pay for a weekly or monthly subscription to have products shipped to their home. B2B software often operates in the same way, charging a monthly fee in exchange for continued use of the platform.
When customers sign up for a subscription service, you don’t have to worry about retargeting them to get repeat purchases. You’ll have a reliable, consistent revenue stream, which will improve your cash flow and increase the lifetime value of your customers.
2. Affiliated Marketing
If selling your own products or services isn’t your thing, you could try your hand at affiliated marketing. Countless brands are looking for individual bloggers to promote their products and services to a small niche audience.
There are several sites dedicated to providing bloggers with affiliate links that they can use on their site (including us!). When you write an article or review for your website, you can then link to these products when you mention them in the article. If your readers click on the link and make a purchase, you will earn a commission of the total sale for the referral.
Though these commissions can provide a great source of revenue, it pays to be authentic when using affiliate links. Only link to products that are relevant to your target audience, and don’t recommend a product if you don’t like it! Being upfront about the way you use affiliate links will generate trust with your audience so they continue to read your content and click on your links.
3. Sell Ad Space
If you have a popular blog with high readership, you can use this to your advantage with relevant companies. Brands want to reach niche audiences, and if your blog is the right fit, they will be more than willing to pay for sidebar banners or other on-site ads.
If you don’t want to reach out to companies directly, you can use Google AdSense to get ads on your site. Most ad revenue is determined based on cost per one thousand impressions, meaning the more people who visit your site, the more money you will make.
You could also accept sponsored posts on your website. This gives companies the chance to publish a guest post on your site that links back to their own website or promotes a new product or service. While these can be a great source of revenue, be sure to enforce strict quality control standards to keep your site from getting overrun with irrelevant or spam content, which could alienate your audience.
At the end of the day, there is no one-size-fits-all solution for earning money online. The best methods for making money through your website will depend on the site’s content, and whether you have products or services of your own that you’d like to sell. By keeping your options open and investigating multiple revenue streams, you will be able to find the best fit for your site.